QA2018-119 - Guarantees T03.02 - T03.03

Owned by SRB Services
Feb 01, 2024
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QA2018-119

Question


The guidance asks to fill “counterparty” when a guarantee is granted to a third party. We need to clarify the role of this "third party". 1-Is it the guaranteed entity (borrower) as understood with the definition proposed by SRB in the guidance through T03.02 example, or is it the beneficiary (lender) as it would be understood in an accounting sense? 2- T03.02 is supposed to report only guarantees received by an internal entity. As the "counterparty" type corresponds to guarantees granted to third parties, we assume that this type of guarantee is excluded from T03.02, can you confirm?


Response


In T03.02, it is expected that the identified intragroup counterparty is the entity providing the guarantee (i.e. the guarantor) that will be exerted when the external event materializes.